Company Briefs: Boustead Singapore

Boustead Singapore

Boustead Singapore said its third-quarter net profit jumped by 26 per cent to $9.5 million.

This was despite revenue falling 19 per cent to $115.7 million for the three months to Dec 31.

After adjusting for other gains and losses, quarterly net profit would have been 21 per cent lower. Boustead said the severely depressed state of the global oil and gas industries continued to significantly and adversely impact revenue at the energy-related engineering division, which saw revenue slump by 29 per cent.

Earnings per share climbed to 1.8 cents from 1.4 cents previously, while net asset value per share firmed to 59.4 cents compared with 58.3 cents as at March 31 last year.

Bukit Sembawang Estates

Bukit Sembawang Estates reported a 78 per cent slump in third-quarter earnings to $5.4 million, on the back of a 75.6 per cent drop in revenue to $10.4 million.

The fall was due to lower profit margins recognised during the quarter.

Earnings per share fell to 2.07 cents from 9.4 cents previously while net asset value per share eased to $4.92 as at Dec 31, from $4.98 as at March 31 last year.

Hutchison Port Holdings Trust

Fourth-quarter net profit for Hutchison Port Holdings Trust (HPH Trust) fell 27.7 per cent from a year earlier to HK$385.8 million (S$70.7 million), as revenue slid 2.5 per cent to HK$2.96 billion.

This came as container throughput at Yantian International Container Terminals in Shenzhen decreased 4.3 per cent, compared with the same quarter a year earlier, primarily due to weaker empty and transshipment cargoes. This was partially compensated by growth in United States and European Union cargoes.

For the full year, net profit fell 1.8 per cent to HK$1.71 billion while revenue came in at HK$11.9 billion, down 5.6 per cent over the preceding year.

Earnings per unit for the quarter was 4.43 Hong Kong cents, down from 6.12 Hong Kong cents in the corresponding period a year earlier.

Net asset value per unit was HK$4.74 as at Dec 31, down from HK$4.89 on the same date the preceding year.

A version of this article appeared in the print edition of The Straits Times on February 11, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe